Measuring the Success of Fiscal Consolidations

We measure the success of fiscal consolidation, with alternative definitions, based on ad-hoc quantitative approaches and on a policy-action approach. The cyclically adjusted primary balance, and the duration of the consolidation contribute for its success, and the opposite applies for revenue based consolidations.fiscal episodes, panel data, logit Classification-C23, E62, H50, H62

[my]-Bis(diphenylphosphanyl)borato-[kappa]2P:P'-bis[dicarbonyl([eta]5-cyclopentadienyl)iron(II)] tetrachloridoferrate(III) chloroform solvate

The title compound, [Fe2(C5H5)2(C24H22BP2)(CO)4][FeCl4]·CHCl3, is an oxidation product of CpFe(CO)2PPh2BH3. One pair of phenyl rings attached to the two different P atoms are almost parallel, as are the other pair [dihedral angles = 8.7 (5) and 8.9 (5)°]. The planes of the two cyclopentadienyl rings are inclined by 26.8 (7)° with respect to each other. The carbonyl groups at each Fe atom are almost perpendicular [C-Fe-C = 92.6 (6) and 94.3 (5)°]. Key indicators: single-crystal X-ray study; T = 173 K; mean σ(C–C) = 0.019 Å; R factor = 0.112; wR factor = 0.177; data-to-parameter ratio = 16.8

Appraising fiscal reaction functions

We estimate fiscal responses for an OECD panel, accounting for cross-country interactions, and also estimate the fiscal responses in a panel VAR. We find that governments have increased primary balances when facing higher government indebtedness, implying a Ricardian fiscal regime, while primary balances have improved to reduce government debt. These results hold for the single regression panel analysis and for the panel VAR.fiscal regimes, Panel VAR, cross-sectional dependence Classification-C23, E62, H62

Spherical Functions on Riemannian Symmetric Spaces

This paper deals with some simple results about spherical functions of type $\delta$, namely new integral formulas, new results about behavior at infinity and some facts about the related $C_\sigma$ functions.Comment: 15 page

Sustainability of public finances and automatic stabilisation under a rule of budgetary discipline

This paper addresses the question of how a fiscal rule of a general type can preserve the sustainability of public finances and provide automatic stabilisation, taking as given interest rates and price stability. This issue can be considered complementary to the analysis of monetary policy rules, whose targets are price stability and often also output stabilisation, assuming that fiscal policy guarantees the sustainability of public finances. Considering the institutional framework provided by the Stability and Growth Pact, the paper also draws some policy conclusions. JEL Classification: E61, H62, H63

Concatenation of Error Avoiding with Error Correcting Quantum Codes for Correlated Noise Models

We study the performance of simple error correcting and error avoiding quantum codes together with their concatenation for correlated noise models. Specifically, we consider two error models: i) a bit-flip (phase-flip) noisy Markovian memory channel (model I); ii) a memory channel defined as a memory degree dependent linear combination of memoryless channels with Kraus decompositions expressed solely in terms of tensor products of X-Pauli (Z-Pauli) operators (model II). The performance of both the three-qubit bit flip (phase flip) and the error avoiding codes suitable for the considered error models is quantified in terms of the entanglement fidelity. We explicitly show that while none of the two codes is effective in the extreme limit when the other is, the three-qubit bit flip (phase flip) code still works for high enough correlations in the errors, whereas the error avoiding code does not work for small correlations. Finally, we consider the concatenation of such codes for both error models and show that it is particularly advantageous for model II in the regime of partial correlations.Comment: 16 pages, 3 figure

Genus Two Modular Bootstrap

We study the Virasoro conformal block decomposition of the genus two partition function of a two-dimensional CFT by expanding around a Z3-invariant Riemann surface that is a three-fold cover of the Riemann sphere branched at four points, and explore constraints from genus two modular invariance and unitarity. In particular, we find 'critical surfaces' that constrain the structure constants of a CFT beyond what is accessible via the crossing equation on the sphere.Comment: 23 pages, 6 figures. v2: updated references, typos corrected. v3-v5: minor typos correcte

A Longer-run Perspective on Fiscal Sustainability

This paper investigates the sustainability of fiscal policy in a set of 19 countries by taking a longer-run secular perspective over the period 1880-2009. Via a systematic analysis of the stationarity properties of the first-differenced level of government debt, and disentangling the components of the debt series using Structural Time Series Models, we are able to conclude that the solvency condition would be satisfied in mostly all cases since non-stationarity can be rejected, and, therefore, longer-run fiscal sustainability cannot be rejected (Japan and Spain can be exceptions). The same would be true for the panel sample analysis.fiscal sustainability, government debt, unit roots, breaks, structural time series models Classification-C23, E62, H62

Design and Development of an Ultrasonic Motion Detector

The ultrasonic motion detector devices emit ultrasonic sound energy into an area of interest (monitored area), and this further reacts to a change in the reflected energy pattern. The system uses a technique that is based on a frequency shift in reflected energy to detect a movement or change in position (motion). In this system, ultrasonic sound is transmitted from the transmitting device which is normally in the form of energy. The transmitted sound utilizes air as its medium and this travel in a wave type motion. The wave is reflected back from the surroundings in the room/hallway and the device hears a pitch characteristic of the protected environment. In this system, the wave pattern is disturbed and reflected back more quickly, thus increasing the pitch and signaling an alarm whenever motion is detected. The main contribution of this work is the design of a circuit that can sense motion through movement of anything, a low cost and portable motion detector, and the design of a circuit that can be used to trigger another circuit whether to ON or OFF depending on the circuit attached to it. Generally, the design is made to detect movement or moving object in a an enclosed area. In this work, a transmitter transducer generates a signal at a frequency of 40khz, and when the signal is blocked by any moving object, and this in turn, triggers a buzzer via a timing circuit. This system works on the principle of the signal interference by a moving body, and the system is dependent on the presence of an intruder or moving object within a monitored area. The system after design and construction was tested and found to work in accordance with specifications.Comment: 7 figures, 13 page